Selling a Home: Should you have an Open House?

Can anyone remember when open houses were not used to help sell a home? Help is the operative word, as holding open houses is not a primary marketing tool to sell a house. More and more agents are saying they are a waste of time, especially successful agents who feel like holding an open house is more like fishing for prospective clients than a potential buyer of the home being held open.

My personal experience is, as much as I would rather be doing something else with my weekend afternoon time, they have led to sales and new clients. What is the relationship of house sitting hours to finding a buyer or new client? I would estimate it at about 65 to 75 hours per “catch,” which means Open Houses may not be the most effective use of time for me or my sellers.

Over the next few days I want to look at some data on holding an Open House, determine if sellers expect them, find out what other agents say and finally answer the question above, should you have an open house if you are selling a home?